Governor Perry Signs Documentary Fee Legislation

In early June, Texas Governor Rick Perry signed Senate Bill 1248 relating to the documentary fee charged in connection with the sale of certain recreational vehicles and boats. This legislation allows for an increase in the documentary fee and delegates to the State Finance Commission and the Office of Consumer Credit Commissioner the responsibility to establish rules regarding the amount of the fee. This legislation takes effect September 1, 2013, and the Texas Motorcycle Dealers Association has already started working with the Office of Consumer Credit Commissioner on the amount of the fee and any other rules that might be required. Join TMDA today to get the latest updates and details as rules are developed.